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With WTI trying to make a comeback of sorts in mid-day trading, after several consecutive days of brutal sell-offs, shares of One Horizon Group Inc (NASDAQ:OHGI), Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR), Energy Transfer Equity LP (NYSE:ETE), and ArcelorMittal SA (ADR) (NYSE:MT) are surging higher. In the following article, we will examine each stock more in-depth, including what hedge funds think of each.

We pay attention to hedge funds’ moves because our research has shown that hedge funds are extremely talented at picking stocks on the long side of their portfolios. It is true that hedge fund investors have been underperforming the market in recent years. However, this was mainly because hedge funds’ short stock picks lost a ton of money during the bull market that started in March 2009. Hedge fund investors also paid an arm and a leg for the services that they received. We have been tracking the performance of hedge funds’ 15 most popular small-cap stock picks in real time since the end of August 2012. These stocks have returned 102% since then and outperformed the S&P 500 Index by around 53 percentage points (see the details here). That’s why we believe it is important to pay attention to hedge fund sentiment; we also don’t like paying huge fees.

Leading the way among the gainers is nano-cap company, One Horizon Group Inc (NASDAQ:OHGI), whose shares have rallied by 8% in morning trading after the company announced that it has signed an agreement to deliver VoIP service to Globecomm Asia Pte. Under the terms of the deal, Globecomm will purchase pre-paid One Horizon calling cards and resell them to ship crews. Globecomm has a distribution network that reaches thousands of vessels, and bulls hope the monthly revenue per vessel can amount to $150 each. One Horizon Group Inc (NASDAQ:OHGI) isn’t profitable at the moment, has around 25 employees, and could certainly use the extra business. Given the nano-cap status of the company, we would stay on the sidelines for now.

Next up on our list of gainers is Brazilian oil and gas company Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR). Shares of the energy company surged 5.4% in morning trading after Reuters reported that Petroleo is seeking to sell up to 25% of its 40% stake in a large offshore field in the Santos Basin. Analysts believe the sale could raise as much as $1.5 billion for the company, which hopes to sell $15.1 billion in non-core assets by the end of next year to fund its investment plans. Shares of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) are down by 34% year-to-date, but will rally if crude prices rebound. Of the 730 elite funds that we track, 24 funds owned $199.1 million worth of Petrobras shares on September 30, amounting to just 0.70% of the float. Among the believers is Ken Fisher‘s Fisher Asset Management, with a holding of 9.64 million shares.